[jedberg]

Well one reason was because before 1978 you couldn't really invest in the S&P500, unless you had the time to manage a portfolio of 500 stocks. And back then most people laughed at the idea.

It's only very recently that people have started to realize that it's a good bet.

[lsiq]

It may be a good bet, it may not be. Hedge funds now buy up stocks before they get indexed.

Stocks will still beat cash in the long run but the main thing is to be ahead of the curve.